Shagang leaves rebar ex-works prices unchanged
Chinese private-sector producer Jiangsu Shagang has kept its rebar ex-works prices unchanged for early November delivery as spot prices get support from falling market inventories.
Shagang's base rebar specification HRB400 with 16-25mm diameter will be offered at 3,800 yuan/t ($540/t) for early November deliveries, effective from today. Demand is still holding up despite higher output and the approach of winter that slows construction activity. Nationwide rebar stocks at trading firms and producers' warehouses fell by around 700,000t over the two weeks to 1 November against a weekly output increase of 20,000t, third-party data show.
Shagang usually offers rebates to agents on prior sales since its ex-works prices have been mostly higher than market levels in main east China cities. But this time the mill has cut its rebate for rebar to Yn60/t from Yn120/t on 21 October, given the latest rebound in secondary markets. Shanghai rebar prices have increased by Yn40/t to Yn3,660/t ex-warehouse since 21 October.
Shagang also kept its wire rod prices and small-size rebar in coil prices unchanged.
- Shagang listed prices effective 1 November:
- HRB400 6mm rebar at Yn4,500/t
- HRB400 8-10mm rebar at Yn4,200/t
- HRB400 16-25mm rebar at Yn3,800/t
- HRB400 10mm rebar at Yn3,960/t
- HRB400 12mm rebar at Yn3,900/t
- HRB400 14mm rebar at Yn3,830/t
- HRB400 28-32mm rebar at Yn3,860/t
- HRB400 36mm and 40mm rebar at Yn4,050/t
- HRB500 rebar sizes are Yn350/t higher than HRB400
- HRB500E rebar sizes are Yn380/t higher than HRB400
- HPB300 6.5mm wire rod at Yn4,160/t
source: Argus Media
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